Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-10-28
A CALL LOAN OF $65O,OOO,
THE ARREST OF A PROMINENT NEW
YORK BUSINESS MAN
For Irregularities in Connection with u
silver Mining npany-Charles G.
Francklin Behind the Bars in
Default of $4,000 Bail,

NEW YORK, Oct. 21.-Charles G. Franck-
lin, for years well known in New York
social and business circles, and until five
or six years ago agent of the Cunard
steamship line, was last night lodged in
the Ludlow street Jail in default of $780,.
900 bail. His arrest was made on the com.
plant of his cousin, Sir Bache Cunard of
England The order of arrest was issued
by the Supreme Court yesterday after
noon. Mr.. Francklin is president of the
Horn Silver Mining company in which
most of the wealth of the Cunards is in
vested. Four years ago there appeared up
on the books of the company a called loan
Of S650,000 1t is supposed the money was
advanced by the company to Francklu.
Failing to get any explanation of why a
once largely paying property had been
crippled by taking from it so large an
amount OF money, the Cunard7 concluded
that their only resource was the law.
Mr.. Francklin made a large fortune as
agent OF the Cunard line in this city. He
was a nephew OF the elder Cunard, of
whose estate he is one OF the executors.
He married Miss Hoyt of this city, whose
father was member OF the large dry
goods firm of Hoyt, Sprague & Co. Vie
Is supposed to have gotten a large for
tune with his wife. His house at No. IA
Washington square was noted for the ele-
gance OF the entertainments given there
in former years. Both Mr.. FRANKLIN and
his wife have been prominent figures in
New York society. When he retired from
the agency of the Cunard he was sup
posed to be worth 100000. With Frank
Brown he went into the Horn Silver Mine
company, which at first paid large divi
dends, and it is understood that it was
through his representations that the
money of the Cuuards was put into the
company. 1t was at the cottage of Mr.
Francklin, at Eiberon, that President
Garfield died. Mr.. Francklin was inform
ed that he must furnish $500, 600 bail or be
locked up. His lawyers could not raise
the money Great pressure was brought to
bear upon the sheriff by prominent friends
of Mr.. Francklin to release him on his
own recognizance, but in vain. Clerk
Martin accompanied the prisoner in his
futile attempt to find friends who would
sign his bond for $4,000 About $50 p.
IN. Mr.. Francklln was conducted TO the
Ludlow street Jail.
The dissatisfied stockholders say Franck
lin refused to tell them what the collateral
on the big loan was. The call loan, as
traced by the company reports. is as fol
had swollen to 1901 ,69O.30; in 1888 it
was decreased to S40l, $50. Neither in
1884 nor 1855 did Francklin favor the
stockholders with reports, but in the lat
ter part of 1856 the clamor became so pro-
nounced that on January 1st of this year
a report was issued in that report no
mention is made of the "call loan" but
instead appears the item accounts due
company" s64S, 667 The first meeting of
the new board OF directors of the mining
company was held yesterday before the
arrest FRANKLIN was reelected president
by vote of three to two, although the
minority directors offered vigorous pro-
tests